National Real Estate Market Update October 2022

Should I still consider selling my house in 2022? Are you still considering selling your house in 2022 but have some reservations? With the current housing market, there is no denying the market has undergone a shift. Hi, I’m Maya Crelan Ray with David Lyng Real Estate. In the last couple of months, the housing market has seen a shift where the buyer demand has slowed down and the inventory of homes on the market have increased. But as a seller, should that deter you from putting your home on the market? Not necessarily. The shift can actually give a seller some unique benefits and opportunities. One of the biggest concerns for sellers is “Will I have a place to go after I sell?” If you are selling your house to make a move, chances are you will have more properties to choose from that check all the boxes for your move. And if your home is priced right, it will still be in demand. Another opportunity is that your home equity has substantially increased in the last few years making it possible to move up. According to Danielle Hale, chief economist at Realtor.com, “Homeowners trying to decide if now is the time to list, are still in a good position in many markets as a decade of rising home prices have given a substantial equity cushion.” That’s right, if you have been worried and holding off on how rising prices can affect your next home search, keep in mind increasing equity in your home can help to cover the next down payment on your next home. So, if you are still thinking of selling this year, let’s connect so I can go over current market data to help you get the best possible price for your home to make the best possible move today. Reach out if you have any questions, thanks for watching and have a great day!